Definition, Meaning & Synonyms

estimated price

Noun

/ˈɛstɪmeɪtɪd praɪs/

Definition

The projected value of a product or service based on various assessments, often used in pricing strategies or budgeting.

Examples

The estimated price of the house was significantly lower than its market value.
Before finalizing the budget, we need to review the estimated prices from different suppliers.
The estimated price for the new smartphone model has generated a lot of excitement among consumers.

Meaning

The estimated price refers to an approximation of what something is expected to cost, taking into account market factors, potential discounts, and overall demand.